Any deviation from the efficient scale of production would result in a(n):
a. decreased marginal cost
b. increased marginal cost.
c. increased average total cost.
d. decreased average total cost.
c
Economics
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Which of the following statements is TRUE for any marginal and average?
A) When the marginal is greater than the average, the average increases. B) When the marginal is less than the average, the average increases. C) When the marginal is rising, the average is increasing. D) When the marginal is equal to the average, the average decreases.
Economics
If business inventories equal $40 billion at the beginning of the year and $55 billion at the end of the year, then, assuming no other changes, GDP must have:
A. increased by $15 billion. B. increased by $40 billion. C. increased by $55 billion. D. decreased by $15 billion.
Economics